General Motors (GM)has inked a joint venture (JV) with POSCO Chemical to establish a cathode plant in the United States.
POSCO Chemical and GM jointly announced, Thursday, that they would establish a cathode material JV and build a large-scale production plant in North America. The joint venture plans to produce high-nickel cathode materials from 2024 and supply them to Ultium Cells, a producer of electric vehicle (EV) batteries for GM. Detailed plans, such as investment scale and factory location, are scheduled to be disclosed at a later date.
GM did not disclose the planned investment or size of the facility but said it could announce a location in early 2022. GM has said it plans to end the sale of light duty internal combustion vehicles by 2035.
he JV plan is a strategic decision made as the U.S. government is strongly pushing for an eco-friendly mobility policy to transition 50 percent of new cars sold in the U.S. with EVs by 2030.
